Connect Money, a prominent fintech firm specializing in embedded finance services, has successfully concluded its seed funding round with a total investment of $8 million. The funding round was co-led by Disruptech Ventures, Algebra Ventures, and Lorax Capital Partners, underscoring investor confidence in the company’s innovative approach to banking-as-a-service solutions.
Founded in 2024 by Ayman Essawy, Marwan Kenawy, and Momtaz Moussa, Connect Money offers a robust white-label card issuing platform designed to empower businesses across the Middle East and North Africa (MENA) region. This platform enables enterprises to provide debit and credit cards to their customers without the need for internal fintech infrastructure or regulatory approvals.
Connect Money’s comprehensive suite of services includes digital payments, instant financing, and access to a vast network of over 20,000 marketplace partners. By handling critical aspects such as KYC (Know Your Customer), customer support, and mobile banking app development through a Software-as-a-Service (SaaS) model, the company simplifies the integration of financial services for its clients.
“This seed investment is a significant milestone for Connect Money,” commented Ayman Essawy, Co-founder and CEO. “It validates our growth trajectory and underscores our commitment to addressing the financial needs of businesses in the region.”
Ayman Essawy, a seasoned entrepreneur with previous successes in founding Dsquares and Lucky ONE, expressed optimism about Connect Money’s potential to enhance operational efficiencies and create new revenue streams for non-financial institutions.
“We are proud to partner with Connect Money in revolutionizing embedded finance across MENA,” stated Mohamed Okasha, Managing Partner of Disruptech Ventures. “This investment reflects our dedication to supporting visionary teams that drive financial inclusion and digital transformation.”
Omar Khashaba, General Partner at Algebra Ventures, emphasized Connect Money’s role in enabling companies to issue cards seamlessly, thereby allowing businesses to focus on their core operations while leveraging Connect Money’s specialized infrastructure.
Mohamed Sadek, Managing Partner at Lorax Capital Partners, highlighted the regional demand for Connect Money’s solutions, anticipating transformative impacts on business-to-business interactions throughout the region.
The newly secured funding will enable Connect Money to expand its operations in key markets such as Egypt and Morocco, foster innovation in technology capabilities, and facilitate market entries across Africa.